Principal Financial Group Inc. Cuts Holdings in Barrick Mining Corporation (NYSE:B)

Principal Financial Group Inc. trimmed its holdings in Barrick Mining Corporation (NYSE:B - Free Report) TSE: ABX by 81.8% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 97,313 shares of the gold and copper producer's stock after selling 438,148 shares during the period. Principal Financial Group Inc.'s holdings in Barrick Mining were worth $1,889,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of B. PNC Financial Services Group Inc. lifted its stake in Barrick Mining by 16.8% in the fourth quarter. PNC Financial Services Group Inc. now owns 19,198 shares of the gold and copper producer's stock valued at $298,000 after buying an additional 2,759 shares during the last quarter. Madison Investment Advisors LLC purchased a new position in Barrick Mining in the 4th quarter valued at approximately $9,757,000. Magnetar Financial LLC increased its stake in shares of Barrick Mining by 45.8% during the 4th quarter. Magnetar Financial LLC now owns 25,005 shares of the gold and copper producer's stock worth $388,000 after purchasing an additional 7,849 shares in the last quarter. Northwest & Ethical Investments L.P. grew its stake in Barrick Mining by 79.1% in the 4th quarter. Northwest & Ethical Investments L.P. now owns 125,425 shares of the gold and copper producer's stock worth $1,941,000 after acquiring an additional 55,375 shares during the period. Finally, Lee Danner & Bass Inc. purchased a new position in Barrick Mining in the 4th quarter worth approximately $121,000. Hedge funds and other institutional investors own 90.82% of the company's stock.

Barrick Mining Trading Down 0.4%

Shares of B traded down $0.09 on Friday, reaching $20.72. 7,257,568 shares of the company's stock were exchanged, compared to its average volume of 4,374,015. Barrick Mining Corporation has a 12 month low of $17.41 and a 12 month high of $47.50. The company has a current ratio of 2.87, a quick ratio of 2.16 and a debt-to-equity ratio of 0.14. The stock has a market capitalization of $35.35 billion, a P/E ratio of 15.58, a price-to-earnings-growth ratio of 0.33 and a beta of 0.28. The business has a 50 day moving average price of $20.17 and a two-hundred day moving average price of $18.76.

Barrick Mining (NYSE:B - Get Free Report) TSE: ABX last posted its quarterly earnings data on Wednesday, May 7th. The gold and copper producer reported $0.35 earnings per share for the quarter, topping the consensus estimate of $0.29 by $0.06. The firm had revenue of $3 billion for the quarter, compared to analysts' expectations of $3.15 billion. Barrick Mining had a return on equity of 7.51% and a net margin of 17.46%. The company's quarterly revenue was up 13.9% compared to the same quarter last year. During the same quarter last year, the business earned $0.19 EPS. Research analysts anticipate that Barrick Mining Corporation will post 1.47 earnings per share for the current year.

Barrick Mining Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Friday, May 30th were given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 1.93%. The ex-dividend date was Friday, May 30th. Barrick Mining's dividend payout ratio is currently 30.08%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on B. Scotiabank upped their price target on shares of Barrick Mining from $20.00 to $22.00 and gave the stock a "sector perform" rating in a research note on Monday, April 14th. CIBC raised their target price on Barrick Mining from $24.00 to $28.00 and gave the company a "neutral" rating in a report on Tuesday. Citigroup cut their price objective on Barrick Mining from $21.00 to $17.00 and set a "neutral" rating on the stock in a research note on Monday, March 31st. Royal Bank Of Canada set a $26.00 price target on Barrick Mining and gave the company an "outperform" rating in a research note on Wednesday, July 2nd. Finally, BMO Capital Markets began coverage on shares of Barrick Mining in a report on Wednesday, April 16th. They set a "market perform" rating for the company. Seven investment analysts have rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $24.41.

Barrick Mining Profile

Barrick Gold Corporation is a sector-leading gold and copper producer.  Its shares trade on the New York Stock Exchange under the symbol GOLD and on the Toronto Stock Exchange under the symbol ABX.   In January 2019 Barrick merged with Randgold Resources and in July that year it combined its gold mines in Nevada, USA, with those of Newmont Corporation in a joint venture, Nevada Gold Mines, which is majority-owned and operated by Barrick.